2019.01.0902:33:00UTC+00German Trade Surplus At 5-month High; Exports Fall

Germany's merchandise trade surplus unexpectedly grew in November to its biggest level in five months despite weaker exports, preliminary data from the Federal Statistical Office showed on Wednesday.

The non-adjusted trade surplus grew to EUR 20.5 billion from EUR 18.9 billion in October. Economists had expected a surplus of EUR 18.6 billion.

The latest surplus was the biggest since June, when the figure was EUR 22 billion

On a seasonally and calendar adjusted basis, the trade surplus increased to EUR 19 billion from EUR 17.9 billion in October. That was also the biggest since June.

Non-adjusted exports were unchanged from the previous month after an 8.7 percent increase in October.

Exports fell a seasonally and calendar adjusted 0.4 percent month-on-month following a 0.9 percent rise in October. Economists had forecast a 0.5 percent decline. The latest fall was the biggest in four months.

On a non-adjusted basis, imports rose 3.6 percent month-on-month after a 10.8 percent surge in October.

Imports decreased a seasonally adjusted 1.6 percent from the previous month after a 0.8 percent increase in October. Economists had expected imports to remain unchanged.

The current account surplus for November was EUR 21.4 billion versus EUR 26.4 billion a year ago. Economists were looking for a surplus of EUR 24.8 billion.